Vladimir Putin Net Worth

What is Vladimir Putin’s Net Worth?

Vladimir Putin, a Russian politician, has an estimated net worth of $70 billion. Throughout his career as both the President and Prime Minister of Russia, he has garnered a controversial international reputation. Currently serving his second term as President since 2012, Putin has been a prominent figure in Russian politics. In April 2021, after a referendum, Putin signed a law allowing him to run for reelection two more times, potentially extending his presidency until 2036.

Highlights

– Vladimir Putin has a net worth of $70 billion.

– He has served as both President and Prime Minister of Russia.

– Putin’s political career has been marked by controversy.

– He has received criticism for his handling of human rights and foreign policy issues.

– Despite the controversies, Putin remains popular among the Russian people.

Early Life

Vladimir Vladimirovich Putin was born on October 7, 1952, in Leningrad, Russian SFSR, Soviet Union (now known as Saint Petersburg). His mother, Maria, worked as a factory worker, while his father, Vladimir Spiridonovich, served as a conscript in the Soviet Navy. Putin developed an interest in martial arts at a young age and began practicing Judo and sambo when he was twelve years old. He became a Judo black belt and also studied German at Saint Petersburg High School 281, becoming fluent in the language.

Putin pursued his higher education at Leningrad State University, where he studied Law and graduated in 1975. During his time at university, he met Anatoly Sobchak, a co-author of the Russian constitution, who played a significant role in shaping Putin’s career.

Career

After completing his law degree, Putin embarked on a career in politics, initially spending 16 years working for the KGB. He underwent training at the 401st KGB school in Okhta, Leningrad, and later further training at the Yuri Andropov Red Banner Institute in Moscow. Putin served as a KGB translator in Dresden, East Germany, from 1985 to 1990.

Upon returning to Leningrad after the collapse of the Communist East German government, Putin reunited with Anatoly Sobchak, who had become the Mayor of Leningrad. Putin was appointed as the head of the Committee for External Relations of the Mayor’s Office, allowing him to further develop his political career.

In 1998, Putin was appointed as the Director of the Federal Security Service (FSB), the primary intelligence and security organization of the Russian Federation, by then-President Boris Yeltsin. Shortly after, he became the acting Prime Minister of the Government of the Russian Federation. Putin assumed the presidency in 2000, serving two terms until 2008. He also held the position of Prime Minister from 1999 to 2000 and again from 2008 to 2012.

Personal Life

Vladimir Putin married Lyudmila Shkrebneva on July 28, 1983. They have two daughters, Yekaterina and Mariya. The couple lived in East Germany from 1985 to 1990. However, they announced their divorce in June 2013, which was finalized in April 2014. Putin has been rumored to live in a palace on an estate worth $1.5 billion, but these reports have been denied, as has speculation about a relationship with gymnast Alina Kabaeva.

Net Worth Over Time

Official disclosures state that Putin’s annual Presidential salary is $187,000 (5.8 million rubles). In 2012, he reported an income of 3.6 million rubles ($113,000). His declared net worth includes $180,000 in a savings account, a few Russian-made automobiles, and a 16,000 square foot plot of land in the Moscow suburbs. His ex-wife, Lyudmila, controls bank accounts totaling $260,000. However, many insiders and experts believe that Putin has secretly accumulated billions through substantial ownership stakes in various multi-billion dollar commodity firms.

Components of Net Worth

While the official disclosures suggest a relatively modest net worth, there is speculation that Putin’s true wealth comes from his secret ownership stakes in companies such as Gazprom, Surgutneftegas, and Gunvor. Critics claim that Putin has leveraged his power to acquire a 4.5% ownership stake in Gazprom, a 37% stake in Surgutneftegas, and a 50% stake in Gunvor. These companies generate significant annual revenue, with Gazprom earning over $150 billion, Gunvor earning $80 billion, and Surgutneftegas earning over $20 billion. Considering the market capitalizations of these companies, it is estimated that Putin’s combined ownership stakes would result in a personal net worth of $70 billion.

Conclusion

Vladimir Putin, with an estimated net worth of $70 billion, has been a controversial figure throughout his career in Russian politics. While his official disclosures indicate a relatively modest net worth, there are claims that his true wealth comes from secret ownership stakes in major companies. Despite criticism from world leaders and experts, Putin remains popular among the Russian people. His political career and personal life have been subjects of interest worldwide, adding to his unique public image.

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